PQ7a Saved Help Save & Exit Submit 1 Direct materials 6.00 lbs @ $5.00/lb =$ 30 Direct labor 5.00 hrs @ $12.00/hr = 60 Variable overhead (based on direct labor hours) 5.00 hrs. @ $6.00/hr = 30 0.6 points During the week ended March 28, the following activity took place: X 01:18:24 21,000 lbs. of raw materials were purchased for inventory at a cost of $4.95 per pound. 2,700 cases of finished product were produced. 16,500 lbs. of raw materials were used. 13,400 direct labor hours were worked at a total cost of $180,900. $79,060 of actual variable overhead costs were incurred. eBook Print . Required: Calculate each of the following variances. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.) References a. Price variance for raw materials purchased. b. Raw materials usage variance. c. Direct labor rate variance. d. Direct labor efficiency variance. e. Variable overhead spending variance. f. Variable overhead efficiency variance